Michigan Laws 447.205 – Loan requirements
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A loan which the director may recommend to the state treasurer to invest shall meet the following requirements:
(a) The agricultural commodities or other products purchased through the loan were produced or processed, in whole or in part, within the state.
Terms Used In Michigan Laws 447.205
- Director: means the director of the department of agriculture. See Michigan Laws 447.202
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(b) The terms of the loan would assist in making the sale competitive with the sale of agricultural commodities or other products of other states or foreign countries.